CACEIS has developed new features for its OLIS web interface to provide managers with greater autonomy in order to view their portfolio and investor data. This solution is unique in the private equity market for the outsourcing administrative and financial control functions of private equity funds (middle office).
The dedicated PERES platform on the OLIS website is tailored to the needs of private equity management companies that have decided to outsource the administrative and financial control processes associated with their funds (middle office). Accessible with a web connected PC, tablet or smartphone, the platform enables users to monitor all of their portfolio and investor register data 24/7 in near real time. Access is fully secured and confidentiality profiles can be configured to restrict access to data relating to carried interest units. Data may be personalised, reorganised (move/delete columns) and exported via Excel, to better suit client needs. Clients can also ask for files to be automatically emailed to the recipients of their choice.
“In 2017, CACEIS added two new features to this platform for private equity, infrastructure, private debt and real estate funds: a transaction related section in which French fund management companies can submit their register instructions and a dedicated access for Equity Bridge credit lines facility monitoring.” points out Sylviane Piganiol, Sales Director France for PERES at CACEIS. Equity Bridge Financing (EBF) is a private equity fund financing method enabling management companies to gather / delay investor capital calls. This EBF has been highly successful with managers in recent years.
Access to “Fund Reports” on the platform provides a synthesis of all funds positions by share class. It is easy to access the main fund, fund operations and investor register details, as well as fund performance data such as the multiple and the IRR. Retrieved data is available on D+1 after being processed by the dedicated financial controller teams at CACEIS.
Historical operations at investor level are provided, covering all operations types by date, with the following key data: commitments, amounts called, paid, distributed, etc. Moreover, performance graphs showing the breakdown of the residual commitment and the total called at fund level complete the reports. Other graphs track capital calls, distributions, cash at work (capital calls - distributions) and investor multiple.
Fund Reports from the PERES module within OLIS give exclusive access to asset transactions, synthesis and detailed portfolio information of each fund.
Portfolio details are classified by investment type: funds of funds, private equity (Direct investment in companies), monitoring of loans for private debt and real estate funds.
In addition, users can access graphs showing the breakdown of the portfolio by business sector or by geographical area in relation to the cost price or the residual valuation. Other graphs provide the breakdown of investments by strategy and the breakdown of the assets valued by instrument.
For direct investments in companies or real estate, several levels of data are provided, including general information on the company or property, capitalisation tables listing the funds or companies that have invested in the company, and the list of flows for each investment instrument.
As regards reporting requirements for funds of funds, specific reporting screens have been developed to offer look-through monitoring for each underlying fund.
"The PERES platform also provides loans monitoring with the full list of credit lines and the associated amortisation tables, in particular in payment schedule format”, adds Sylviane Piganiol.
MONITORING OF EQUITY BRIDGE FINANCING
A new feature has been launched to ensure comprehensive monitoring of Equity Bridge Financing granted to funds by CACEIS or for which CACEIS is the facility agent. It provides two levels of information: key information on the loan (conditions) and a table pointing the timeline to date of the equity bridge financing facility with fundings, redemptions, various fees, etc..
Thanks to these features, the dedicated PERES platform available on OLIS is a crucial one-stop tool for private equity and real estate fund managers, investor relations teams and internal financial control teams within management companies.
It meets the expectations of end clients and regulatory authorities in terms of transparency, risk management, performance measurement and asset valuation so that users can focus on managing their investments. This platform is the cornerstone of CACEIS’s services for private equity, infrastructure, private debt and real estate funds.
A host of new functions will be added in 2018 to enhance CACEIS’s services for private equity and real estate funds.